WorldOne Announces $35 Million Funding Round for Physician Social Networking Platform

4-3-2013 8-00-14 PM

WorldOne, parent company to Cambridge, MA-based Sermo, announces a $35 million investment led by Deerfield Management. The investment will be used to expand Sermo, an online community for physicians, to build an interactive platform for physicians to engage professionally.

The platform includes 350,000 physicians in 80 countries, but Sermo hopes to grow the user base significantly with the new funding. The Cambridge, MA-based startup currently has 25 employees and will hire additional engineers and marketing specialists.

The funding is a positive sign for the company, which relies on pharma advertising dollars to support the free-for-use physician platform. During the 2009-2010 economic downturn, Sermo saw a significant erosion to its customer base as pharma customers scaled back advertising budgets.

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